Texas Permanent School Fund Corp Sells 58,922 Shares of Monster Beverage Corporation $MNST

Texas Permanent School Fund Corp lowered its position in Monster Beverage Corporation (NASDAQ:MNST) by 42.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,316 shares of the company’s stock after selling 58,922 shares during the period. Texas Permanent School Fund Corp’s holdings in Monster Beverage were worth $4,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. waypoint wealth counsel bought a new position in shares of Monster Beverage in the second quarter worth about $314,000. Prudential PLC grew its stake in Monster Beverage by 76.4% in the 2nd quarter. Prudential PLC now owns 108,930 shares of the company’s stock worth $6,823,000 after acquiring an additional 47,165 shares in the last quarter. VestGen Advisors LLC increased its position in shares of Monster Beverage by 449.4% during the second quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock worth $1,376,000 after acquiring an additional 17,974 shares during the period. Swiss National Bank raised its stake in shares of Monster Beverage by 7.4% during the second quarter. Swiss National Bank now owns 2,209,500 shares of the company’s stock valued at $138,403,000 after acquiring an additional 152,300 shares in the last quarter. Finally, OMNI 360 Wealth Inc. purchased a new stake in shares of Monster Beverage in the second quarter valued at approximately $365,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $74.33 on Thursday. The stock’s 50-day moving average is $71.22 and its 200 day moving average is $65.81. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $76.28. The company has a market cap of $72.62 billion, a P/E ratio of 42.23, a PEG ratio of 2.26 and a beta of 0.48.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. Monster Beverage had a net margin of 21.65% and a return on equity of 27.76%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Rodney C. Sacks sold 206,543 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $73.58, for a total value of $15,197,433.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the completion of the transaction, the insider directly owned 21,993 shares in the company, valued at $1,568,760.69. This represents a 63.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 274,981 shares of company stock valued at $20,138,516 over the last 90 days. Insiders own 8.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MNST. JPMorgan Chase & Co. raised their price objective on Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Monster Beverage in a research report on Monday, December 8th. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Evercore ISI upped their price objective on shares of Monster Beverage from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.